Pros and cons of moving to wealth management under someone like Morgan Stanley? I’ve got about $300K in non 401K equities, mostly VOO, but a lot of individual positions as well, and have always enjoyed managing my money. But curious about perks like free Amex platinum and enticed about the idea of spending less time managing myself.

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When I got married my wife and I kept mostly separate finances. It was really hard to manage our money that way, so I signed up for personal capital mostly to just link all of our accounts and track our income/spend. My wife, other than 401k, had no other investments.

We did the free call with the advisor and went through some things and I really liked their philosophy and technology. So we signed up and created several accounts with them and they manage it all for us.

It’s been great to not have to deal with it, have some peace of mind that I have a solid plan that I’m not emotionally invested in, have someone to talk to about financial decisions and other more complicated issues, and also see my account still grow on the good days but not have so much volatility on the bad days.

It works for us.

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Pretty sure the fees you will pay will far exceed the benefits of an Amex platinum. Just get rid of the individual stocks and put it all in VOO. That will save you time for free

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Just save yourself the money and get your own AMEX platinum card. You’ll pay less in fees for that than the management company.

There’s a reason they give it away for “free” to their clients, and it ain’t because they’re just nice like that.

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That’s called a relationship rate. The big banks and brokerages will offer it for $xxx assets under management. That being said, the reason they offer these rates is because they make big money on fees for those assets under management which offsets the lower rate they offer on the mortgage. All in all, it’s probably a wash.

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What’s MSs account minimum for wealth management? It would surprise me if they would be interested in managing a $300k account.

But your 401k has limited options. Why pay MS 1% to manage that. Same with 529.

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